Amazon Prime Members Save Big, BofA Holds Bullish Stance Amid Stock Fluctuations
Portfolio Pulse from Anusuya Lahiri
BofA analyst Justin Post maintains a Buy rating on Amazon (AMZN) with a price target of $174. Amazon's Big Deal Days event resulted in Prime members saving over $1 billion. Post estimates a 43% Y/Y unit growth, translating to $9.1 billion in total GMV. He also anticipates a solid start to 4Q and strong holiday demand, indicated by Amazon's plan to hire up to 250k employees. Despite a 2.04% drop in AMZN shares, Post remains bullish due to expected eCommerce and AWS acceleration.
October 13, 2023 | 5:18 pm
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BofA analyst maintains a bullish stance on Amazon (AMZN) despite stock fluctuations. The success of the Big Deal Days event and plans for significant hiring indicate strong future performance.
The analyst's maintained Buy rating, despite the stock's recent drop, indicates confidence in Amazon's future performance. The success of the Big Deal Days event and plans to hire a significant number of employees suggest strong sales growth and a positive outlook for the holiday season and beyond.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100